The information age company
The 21st century company is different from an industrial age company. Industrial age company were characterized by stability partially enables through strong entry barriers and sustainable economic moats.
With the information age this stability that formed the bedrock foundation has vanished. Instead, we have entered an era of transformation, driven by the rapid pace of technological and social change. Many of those changes are interconnected. Entry barriers have declined across industries as a result of the impact that technology has on many industries, as well as due to the opportunity to outsource large parts of the value chain. The classic economic moat from the industrial age may not be relevant anymore. Not only have new entrants an easier time getting started; also existing players increasingly compete at arm’s length with products becoming commoditized quickly.
As a result, industries and business models of companies have become more dynamic than ever. This has a huge impact on the success factors of businesses. This means that the skills that corporations and humans apply need to constantly adapt in this era of transformation.